There are many opportunities for Vietnamese goods, especially agricultural products, to enter foreign distribution channels, said Ta Hoang Linh, director of the Europe - America Market Department, Ministry of Industry and Trade.
At the Conference on Market Information and Connection with the European Distribution System (EU) held on August 11, Ms. Nguyen Thao Hien, Deputy Director of the European-American Market Department under the Ministry of Industry and Trade, said that in the first month of 2022, Vietnam's export turnover to the EU market increased drastically, estimated at US$27.9 billion, up 22 percent over the same period last year.
Vietnam has just taken part in the eighth Africa Forum of Investment and Commerce (AFIC8) in Algeria with booths showcasing and introducing typical products such as coffee, tea, rice, pepper, cashew nuts, milk, canned pineapple, cotton swabs, rice paper, tapioca starch, electrical cables and handicrafts to international visitors.
Vietnamese commodities have been displayed in more than 200 countries and territories around the world. Fifty countries and territories are identified as the main export markets for Vietnamese goods.
For the ‘Vietnamese people prioritize using Vietnamese goods’ campaign to be highly effective, the Government should have policies to support Vietnamese private enterprises and business households on par with FDI enterprises.
China and USA are currently the two largest export markets for Vietnamese goods. However, some analysis points to worrying factors in these two markets, and questions remain whether these two vital export markets will continue to maintain their present position for Vietnamese export goods or not.
China has just adjusted its import and export regulations. Accordingly, China will tighten the registration of imported goods groups and the standards of quality control, which is assessed to cause many obstacles for Vietnamese exports.
The Ministry of Industry and Trade, on October 27, coordinated with the European Chamber of Commerce (EuroCham) to organize the Vietnam-EU Trade Forum in 2021 titled "EVFTA – Leverage for Trade and Investment Cooperation in the New Normal’. The meeting attracted more than 300 delegates from many provinces, cities, commercial counselors, domestic and European enterprises.
With the desire to conquer the world market by “make-in-Vietnam” products, domestic enterprises have brought many products with Vietnamese characteristics to participate deeply in the global supply and distribution chains. Many business owners confidently affirm that they are on the right track and have initially succeeded in conquering the world market.
The Ministry of Industry and Trade, in collaboration with Aeon Corporation Japan, organized the ‘Vietnamese Goods Week at Aeon supermarkets in Japan’ from June 25 to June 27, at Aeon Lake Town Trade Center in Saitama Province (main location) and 350 stores in the retail chain of Aeon Group in Japan.
The Prime Minister has just approved the project to develop the domestic market associated with the campaign "Vietnamese people prioritize using Vietnamese goods" for the 2021-2025 period.
Vietnam’s export turnover to six Northern European countries in 2020 was equal to figures reported in the previous year despite difficulties posed by the COVID-19 pandemic, according to Vietnamese Commercial Counsellor in Sweden Nguyen Thi Hoang Thuy.
The Ho Chi Minh City Investment and Trade Promotion Center (ITPC) on January 28 held a seminar on the prospects of exporting goods to the European Union through the gateway of Poland to assist enterprises to have more information and experience to increase exports to this market.
Despite the Covid-19 pandemic, Ho Chi Minh City's retail revenue in 2020 is estimated at more than VND759.71 trillion, up 11.9 percent over the same period in the previous year. According to forecasts, retail activities will continue to grow strongly this year, and there are still lots of potentials for enterprises to exploit.
According to Vietnamese trade counselors, in 2021, Vietnamese goods, in general, have a great opportunity to export to Europe, Northern Europe, the US, the Eurasian Economic Union, Japan, South Korea, and China.
According to the Ministry of Industry and Trade, the general purchasing power on the market showed signs of improvement, and the supply of goods, especially the group of essential food products, was very abundant in November this year. To maintain stable prices, enterprises need to focus all resources on production, organize more promotional activities and promotions to stimulate shopping demand at the end of the year.
Vietnamese trade counselors in Europe affirmed that Vietnam's exports merely accounted for 2 percent of the European import market share at a meeting on trade promotion to the European market held by the Ministry of Industry and Trade (MoIT) on November 25.
